Today, Canada Post announced an increase to the cost of sending a letter in the country. Stamps purchased in booklet, coil, or pane will now cost 99 cents, which is a seven cent increase. A single domestic stamp will now cost 1.15 cents, up from 1.07 cents previously.
The announcement comes after Canada Post announced a loss of $748 million in 2023, compared to a loss of $549 million in 2022, and warned that, without changes, it expects larger, unsustainable losses in the coming years.
In a statement, Canada Post said that the losses were caused by a “surge in competition in parcel delivery, the continued decline of transaction mail, and a continued increase in address and delivery costs.”
Time for a private company to take over.